The university degree you choose to pursue will act as a platform to help you jumpstart your career. This is why careful consideration is important before settling on your career of choice. If you want to have a fulfilling career as a financial business analyst, here are the basics:
Becoming a financial business analyst requires at least a bachelor’s degree in finance. Related majors, such as economics, statistics, and accounting, will also put you on the path to becoming a financial business analyst. Furthering your education with a Master’s or Doctorate degree is usually not necessary, though many employers prefer candidates with relevant work experience on their resumes. So rather than applying for graduate school, focus your energy on securing an internship and seeking certification after graduation..
Great financial business analysts have a few common traits that can indicate future success and/or job satisfaction. If you have a knack for puzzle solving, can find practical solutions to business problems, and are an analytical thinker, you may want to consider a career in this field. Some of the other qualities that would come in handy include a can-do attitude and the ability to work with people and computers with equal proficiency.
Duties and responsibilities
Some of your key duties as a financial business analyst would include recommending investment opportunities, generating revenue to facilitate trades, maximizing the cost of operations and preparing financial reports. Your responsibilities will also include keeping a database of the company’s financial records and executing trades. When there are commercial debts, you will also have to be involved in the process of business-to-business collections.
At the start of your career, you can expect to earn ~$45,000-$55,000, but as you gain experience and connections, that income can increase to as much as $140,000 at the managerial level.
Pros and Cons
Boredom is rarely a problem for financial business analysts; this job will allow you to work on a variety of projects and meet new challenges head-on every day. However, you may not get opportunities to attend formal training sessions and/or workshops.
If you think financial business analytics would be a good fit, start working hard now to distinguish yourself from the pack. Declare a relevant major that you know you can excel in, and keep an eye out for internship opportunities. Your college or university should have career and internship fairs where you can put yourself out there and introduce yourself to local businesses. You can do this!